Author Topic: Investing types & Crypto Discussion $$$ (Read 33787 times)

shitlord · December 03, 2017, 02:34:06 PM

Quote from: Metario on December 03, 2017, 02:15:43 PM

Do not go into mining directly. Use something like Nicehash. I do it and I get ~3$ per day with my 1070

they close your wallet if you stop mining for like a week and they throw the stuff you earned away or take it for themselves

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Awesomebread� · December 03, 2017, 02:35:08 PM

Quote from: Metario on December 03, 2017, 02:15:43 PM

Do not go into mining directly. Use something like Nicehash. I do it and I get ~3$ per day with my 1070

nicehash was actually what i had in mind, but what�s the difference between that and mining?

Pecon · December 03, 2017, 03:06:23 PM

Quote from: Awesomebread² on December 03, 2017, 02:35:08 PM

nicehash was actually what i had in mind, but what’s the difference between that and mining?

It's a mining pool. The chances of you mining a block on your own are infinitesimally small nowadays, so many people 'pool' together to try and mine a block. When one person in the pool mines a block, the reward is split between all the pool participants based on how much work they contributed that period.

If you're actually interested in mining bitcoin specifically, the bitcoin.com pool has the highest payouts of any pool. You're not very likely to make money mining off GPU hardware, though. Mining is dominated by ASICs.

Bisjac · December 03, 2017, 03:08:09 PM

nicehash is just a service you either pay people to mine for you, or you get paid by people to mine for them. its not a normal option for actual mining for yourself.

Kearn · December 03, 2017, 03:41:35 PM

using nicehash is stupid unless you have multiple gpus because the withdrawal limits make it infeasible to pull your earnings

if you wanted to mine you could just mine monero on a pool like dwarfpool or w/e since the transaction minimum is .1 and the fee is .014 per transaction to an exchange wallet (which is where you want to have your wallet since monero has high transaction fees in the event you ever tried to move it from a private wallet to an exchange)

the other thing is that nicehash pays in bitcoin, mining on your own pays in whatever youre mining

Awesomebread� · December 03, 2017, 05:30:21 PM

I see. Well I have an HD 7870 and R7 370. Not really a high end setup, but would it be worth giving anything a shot?

Planr · December 03, 2017, 06:18:45 PM

how long would it take me to mine a small percentage of a bitcoin? like say 5%?

i have a gtx 960m and an Intel(R) Core(TM) i7-4720HQ CPU @ 2.60GHz (8 CPUs)

Kearn · December 03, 2017, 06:36:51 PM

Quote from: Awesomebread� on December 03, 2017, 05:30:21 PM

I see. Well I have an HD 7870 and R7 370. Not really a high end setup, but would it be worth giving anything a shot?

probably 800-900 h/s with monero if you use them both discretely, about .01 to .015 a day which is something like $2-$2.50 a day using free power

Quote from: Planr on December 03, 2017, 06:18:45 PM

how long would it take me to mine a small percentage of a bitcoin? like say 5%?

i have a gtx 960m and an Intel(R) Core(TM) i7-4720HQ CPU @ 2.60GHz (8 CPUs)

apparently those add up to ~400 hash, thats like a dollar a day if you pay nothing for electricity

considering bitcoin is like $11000 right now youd have to mine for close to two years or so

e: derp double quoted

Planr · December 03, 2017, 07:09:23 PM

Quote from: Kearn on December 03, 2017, 06:36:51 PM

apparently those add up to ~400 hash, thats like a dollar a day if you pay nothing for electricity

considering bitcoin is like $11000 right now youd have to mine for close to two years or so

e: derp double quoted

so is it better to just buy bitcoin and wait for it to appreciate in value? i feel a lot more optimistic about litecoin and etherium atm tbh

Kearn · December 03, 2017, 07:27:49 PM

either that or buy mining hardware, but dont take your investment advice from me

Planr · December 03, 2017, 08:23:26 PM

Quote from: Kearn on December 03, 2017, 07:27:49 PM

either that or buy mining hardware, but dont take your investment advice from me

While we're on the subject of hardware, I want to buy a powerful CPU computer (with no graphics card preferably) so I can host my minecraft server without it lagging to death. Any suggestions?

Kearn · December 03, 2017, 08:46:24 PM

idk, if you wanted to go overkill you could buy a used workstation for a few hundred since those have pretty serious RAM and CPU, i dont really know anything about hosting or how intensive it actually is though

KickFlow · December 03, 2017, 10:13:53 PM

Quote from: Planr on December 03, 2017, 07:09:23 PM

so is it better to just buy bitcoin and wait for it to appreciate in value? i feel a lot more optimistic about litecoin and etherium atm tbh

It depends how much you invest.. If you invest a dollar, and it goes up by 1500% in 3 years, that's only a 1499 roi over 3 years. If you invest more than that, then obviously you'll have had made more money.

Kearn · December 04, 2017, 01:58:30 AM

the argument in favor of hardware is if your chosen coin tanks you can either switch to another or worst-case scenario sell the stuff

the argument in favor of buying outright and investing is that if the price increases dramatically in a short period of time you make a stupid amount of profit that you would take a long time to produce from mining

the cons for each are the pros of their opponents

Bisjac · December 04, 2017, 12:57:10 PM

just made $3400 since last night on ETN lol. its grown 50% overnight and hit 10 cents.